Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time period. What interest rate did she earn? Use the formula I=Prt to find your answer, where I is interest, P is principal, r is rate and t is time. Enter your solution in decimal form rounded to the nearest hundredth. For example, if your solution is 12%, you would enter 0.12.

ANSWERS

2021-05-04 08:37:42

[latex]I=prt\(450)=(3000)r(3)\frac{450}{9000}=frac{9000r}{9000}\0.05=r[/latex] r=0.05

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